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California  + Orange County  + Retail  | 

Faris Lee Closes Brea Retail Sale Despite Challenges

Faris Lee Investments closed the sale of Brea Promenade, a retail center in Brea. Senior managing director Scott DeYoung represented the seller, Nesbitt Partners Brea Venture, LTD., in the $5.15-million transaction and sourced a California based 1031 exchange buyer.

Located at 910 E. Birch St., the Brea Promenade is situated at a signalized hard corner entrance to Brea Mall and near the 57 Freeway and the Cal State University – Fullerton Campus. Despite challenges such as the property being held under a ground lease with 57 years remaining and 84% occupied, Faris Lee navigated the objections by guiding the buyer through value-add opportunity and the high in-place yield.

In addition, Faris Lee was actively involved through the escrow process, engaging the buyer’s lender and collaborating with the ground lessor to ensure a smooth ownership transition.

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Inside The Story

Faris Lee's DeYoung

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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